TOKYO, Japan and AMSTERDAM and HOEVELAKEN, the Netherlands – 8 November 2016
Eurus Energy Holdings Corporation (“Eurus”), a leading Japanese renewable energy company, and YARD ENERGY (“YARD”), a Dutch-based developer of wind energy projects, today jointly announced the completion of the acquisition by Eurus of nine operational wind farms located in the Netherlands, with a combined capacity of 72.5 MW, developed and managed by YARD. The two companies have also agreed to expand their collaboration for the development and realization of new wind projects.
This is the second successful transaction between Eurus and YARD in a month, following another acquisition by Eurus of two wind projects in Finland, bringing the total acquisitions to 100 MW. Kevin Dijkers, CEO of YARD said: “Both parties have the same ambitions to support the ongoing transition towards renewable energy. This transaction and a long-term collaboration between our companies paves the way to a successful partnership between Eurus Energy and YARD ENERGY leading to bringing many more megawatts online in the coming years.”
The nine wind farms are the first projects for Eurus in the Netherlands, where Eurus maintains its European head office. The Dutch government has set a target to reach 6 GW of onshore wind capacity by 2023 as part of their efforts towards a fully sustainable energy supply. Hideyuki Inazumi, President and CEO of Eurus, said: “I am convinced that our partnership with YARD ENERGY, with their vast capabilities in project development, will enable us to grow our European business to the next level. In particular, we see a large potential in the Netherlands, where renewable energy is strongly supported by the society as a whole.”
Eurus was advised in this transaction by Peregrine as financial advisor, Baker & McKenzie as legal advisor, MECAL and Green Trust as technical advisors, and PwC as tax advisor. YARD was advised by Stek and EBH-Elshof as legal advisors, Horst & van de Graaff as notary, and MTH Accountants & Advisors as tax advisor.
Eurus Energy group develops, invests in and operates renewable energy projects globally. Starting from its first project in California in 1987, Eurus now has over 2.7 GW of wind and solar power generation worldwide. Amsterdam-based Eurus Energy Europe B.V. is a wholly owned subsidiary of Eurus Energy Holdings Corporation, which is jointly owned by Toyota Tsusho Corporation and Tokyo Electric Power Company Holdings, Inc.
YARD ENERGY, founded in 2004, is one of the largest privately owned onshore wind farm developers and investors in the Netherlands. With 150 MW of wind energy under management and a development portfolio of over 800 MW situated across its four focus countries: the Netherlands, Finland, Poland and Belgium.